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We’ll make no money says ailing JVC

February 19th, 2007 · No Comments

Struggling CE brand JVC has revised its business forecast downward. The Victor Company of Japan says that it expects its consolidated operating income for fiscal 2007 to be a loss of 1.0 billion yen, compared to an original forecast of a profit of 10 billion yen.
In a statement, it says “we expect our ordinary income for fiscal 2007 to be lower than expected due to sluggish sales of display products such D-ILA rear-projection televisions in the North American market.” Majority stakeholder Matsushita has now put the brand up for sale.

Tags: LCD TV · Trade

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